Major Drilling announces closing of the over-allotment option in connection with its public offering of common shares
23 Oktober 2011 - 12:45PM
PR Newswire (Canada)
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
MONCTON, NB, Oct. 25, 2011 /CNW/ - Major Drilling Group
International Inc. ("Major Drilling" or the "Corporation") is
pleased to announce that it has closed the full amount of the
over-allotment option (the "Over-Allotment") granted to the
syndicate of underwriters led by TD Securities Inc. and including
Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion
Securities Inc., Beacon Securities Limited., Jennings Capital Inc.
and Salman Partners Inc. (the "Underwriters"). Pursuant to
the Over-Allotment, the Underwriters elected to purchase an
additional 885,000 common shares of the Corporation at a price of
$11.90 per common share, for aggregate proceeds of $10,531,500. The
Over-Allotment option was granted to the Underwriters in connection
with a previously announced offering of subscription receipts of
the Corporation which were exchanged for common shares on the
closing of the acquisition of Bradley Group Limited on September
30, 2011. About Major Drilling Based in Moncton, New Brunswick,
Major Drilling is one of the world's largest metals and minerals
contract drilling service companies. To support its customers'
mining operations, mineral exploration and environmental
activities, Major Drilling maintains operations in Canada, the
United States, South and Central America, Australia, Asia and
Africa. All dollar values are quoted in Canadian dollars. THIS NEWS
RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES
AND IS NOT AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY ANY
SECURITIES OF MAJOR DRILLING, NOR SHALL IT FORM THE BASIS OF, OR BE
RELIED UPON IN CONNECTION WITH ANY CONTRACT FOR PURCHASE OR
SUBSCRIPTION. THE SECURITIES REFERRED TO IN THIS NEWS RELEASE WERE
ONLY OFFERED IN CERTAIN PROVINCES OF CANADA BY MEANS OF
PROSPECTUS. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE
UNITED STATES ABSENT REGISTRATION UNDER THE U.S. SECURITIES ACT OR
AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES REFERRED
TO IN THIS NEWS RELEASE HAVE NOT BEEN AND WILL NOT BE REGISTERED
UNDER THE U.S. SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE
AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT
REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE
SECURITIES LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION THEREFROM.
MAJOR DRILLING GROUP INTERNATIONAL INC. CONTACT: Denis Larocque,
Chief Financial Officer Tel: (506) 857-8636Fax: (506)
857-9211ir@majordrilling.com
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